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Online Stock Market Trading China's Prime Minister Wen Jiabao says his country rejects outside pressure to revalue its currency, the yuan, repeating assertions that revaluation must be done gradually.

In July 2005, China revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies.

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ECB President Trichet said that he is opposed to brutal currency moves while Airbus is complaining loudly about the damage of a weaker dollar. It is important to point out that Trichet did not call the latest move in the Euro brutal, but simply indicated his discontent with volatility in the currency markets in general. The pressure is heating up for the central bank president to do something about the currency but his reluctance to do so reflects what must be very strong inflationary pressures.

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Stock Investing Game June 26, 2005 (AXcess News) Beijing - China's Prime Minister Wen Jiabao says his country rejects outside pressure to revalue its currency, the yuan, repeating assertions that revaluation must be done gradually and when conditions are right.

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Journal Prime Rate Street Wall Prime Minister Wen Jiabao stuck to Beijing's stance that it may eventually move to reform its currency, but only when the government determines that doing so will not hurt the country's fragile banking sector and the economies of its Asian trading partners.

China's currency has advanced about 8.6% the dollar since the government ended a strict peg to the U.S. currency in July 2005. Paulson told the committee that he didn't know how much the Chinese currency was undervalued. While it's an ``unnatural act'' for an economy that trades as much as China's to have a rigid exchange rate, the U.S. would still have a large deficit with China even if the Yuan traded freely because of ``structural'' issues.

Stock Market News He spoke Sunday at a meeting of European and Asian finance ministers in the port city of Tianjin.Mr. Wen says such reform would have far-reaching impact and requires a great deal of preparation for all sides to be able to handle the effects of a revaluation. The prime minister says such a responsible attitude would contribute to stability and development in China and elsewhere.

Stock Investing Basics Mr. Wen's remarks came a day after Japanese Finance Minister Sadakazu Tanigaki said that moving toward rapid currency reform would be in China's interest.China has been under heavy pressure from the United States, where some blame the peg of 8.2 yuan to $1 for the ballooning trade deficit with China.

Stock Investing Software Some U.S. politicians, manufacturers, and labor groups allege the peg, which has been in place for a decade, makes Chinese products artificially cheap and causes the United States to lose jobs.

Stock Market Trading This month, Alan Greenspan, the head of the U.S. central bank, told central bankers meeting in Beijing that he expected China would move to a more flexible currency exchange regime "reasonably soon," saying it would be to China's advantage to do so.

Stock Investing For Dummy However, Mr. Greenspan has said he does not expect a revaluation of the yuan to have any significant effect on the trade deficit between China and the United States.Source: Voice of America

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